To apply or not to apply

I have been wavering back and forth on whether or not to apply for a position that would inevitably be a promotion for me. Now, before you say "Is she crazy, why wouldn't she apply for it", let me explain my thoughts. And I guess it would be helpful to give you all a little background, too.

I have been employed at my current workplace since October of 2005. Previous to that, I had nearly 7 years of experience in the Coast Guard, where I was honorably discharged as an E-5 (in non-military terms, I was of supervisory level!) When I first began working in the office that I work now, I started at the bottom of the totem pole. About a year after I began working there, the person that was previously in my current position decided to quit. I applied for and was hired into that position. There were a few growing pains when I became the supervisor of a person that used to be a pay-grade above me, but I think it's safe to say that we are past that now. When I was hired for that job, my supervisor told me that she would expect alot of assistance out of me for things in the office that she needed help with. I have risen to the occasion and am proud to say that I have learned and exceled in my position. (At least I think so!) I am the go-to person during my supervisor's absence (and sometimes even the go-to person for my supervisor :) !) Well, the time has come and now my supervisor is quitting (should I be getting a complex about this?!!) and her job is available to be applied for until July 10th. I feel that I would be able to learn and excel in her position, too. My hesitation is simply the amount of hours that I have seen her put in and still be extremely far behind. I have the utmost respect for this person that is leaving and don't fully know what the situation was that she was so buried in work. I don't want to degrade her efforts and will just keep my opinions to myself, but suffice it to say that I believe I wouldn't face some of the same obstacles. Another reason for my hesitation is that although it will be a nice pay increase in black and white, I will become a salaried employee (I am now overtime eligible, not that I have had to work too many overtime hours) which means that although I will get paid more, with that comes the expectation to put in longer hours, as well.

So, I have talked this over with Leo for quite some time and I have prayed about it even longer. Some days I feel like the little voice is telling me to stay right where I'm at because there are other things in my life that need to be focused on. Than other days, I think I would still be able to handle all of the obligations to family, church and school and still learn this new job as well. I know the option is there to submit my application and then not take the job if that time were to come. But, it would be pretty awkward if I were to get to the point of being offered the job and then turn it down.

What to do?....What to do?....